Foreclosure notices at lowest level in 12 years

Foreclosure notices, which continue to fall in metro Atlanta, are at their lowest level in 12 years.

Just 2,104 foreclosure notices were filed in the metro Atlanta region in May, according to Kennesaw-based Equity Depot, which compiles the numbers. The last time fewer notices were filed was June 2002, when there were 1,851 notices filed.

In 2010, at the peak of the crisis, there were as many as 13,000 notices filed in one month.

A decline in foreclosures is indicative of an improving housing market. Foreclosures bring home prices in a neighborhood down, so the decrease means less of an anchor on existing home prices, and more demand for new construction.

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